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Talent matching startup Eightfold AI's logo is seen outside its office building in Mountain View, California, U.S. in this undated handout photo. Eightfold AI/Handout via REUTERSEightfold AI, a talent matching platform, said on Thursday it raised $220 million in a funding round led by SoftBank Group Corp's (9984.T) Vision Fund 2 that doubled the company's valuation since the previous funding round to over $2 billion. The profile will help employees find other suitable jobs within the company or help managers identify them for promotions or new jobs. He said over 100 companies and some U.S. states are customers, and that Eightfold AI is used in over 110 countries and available in 15 languages. Deep Nishar, senior managing partner at SoftBank Investment Advisers, said Eightfold AI took a more holistic approach than other companies offering solutions to recruitment and career management.
Persons: , Ashutosh Garg, Garg, siad Organizations: REUTERS, SoftBank Group, Indiana Department of Workforce Development, SoftBank Investment, Thomson Locations: Mountain View , California, U.S
SoftBank-backed DoorDash enters Japan
  + stars: | 2021-06-09 | by ( Reuters Staff | ) www.reuters.com + 0.57   time to read: +1 min
FILE PHOTO: A delivery person for Doordash rides his bike in the rain during the coronavirus disease (COVID-19) pandemic in the Manhattan borough of New York City, New York, U.S., November 13, 2020. REUTERS/Carlo AllegriTOKYO (Reuters) -U.S. food delivery firm DoorDash Inc, which is backed by SoftBank Group Corp, announced the launch of services in Japan on Wednesday, joining an increasingly crowded market that has grown during the COVID-19 pandemic. Services will be initially limited to the city of Sendai in Miyagi prefecture, the money losing delivery firm told reporters, in a step that follows its expansion to Canada and Australia. DoorDash, which has also branched out into delivery from grocery and convenience stores last year, reported a near three-fold jump in quarterly revenue to $1.08 billion. The company has seen a surge in order volumes during the pandemic as consumers hesitant to step out order essential items by telephone.
Persons: Carlo Allegri TOKYO, Tony Xu, SoftBank, DoorDash Organizations: REUTERS, DoorDash Inc, SoftBank Group Corp, Uber Technologies, Co Locations: Manhattan, New York City , New York, U.S, Japan, Sendai, Miyagi prefecture, Canada, Australia
Heavyweights pull Nikkei lower, Topix gains on drugmakers' boost
  + stars: | 2021-06-08 | by ( Junko Fujita | Kevin Buckland | ) www.reuters.com sentiment -1.00   time to read: +1 min
TOKYO, June 8 (Reuters) - Japan’s Nikkei stock index ended lower on Tuesday, dragged down by losses in heavyweights, including Softbank Group, while a rally in drugmakers lifted the broader Topix index. Nikkei inched down 0.2% to close at 28,963.56, while the Topix edged up 0.1% at 1,962.65. Leading gains among subindexes on the Topix, pharma and sea transport subindex rose 2.8% each. Air transport and land transport rose 1.6% and 0.9%, respectively. There were 105 decliners on the Nikkei index against 110 advancers, with 10 stocks unchanged.
Persons: Biogen Inc’s, Eisai, , Shoichi Arisawa, Junko Fujita, Kevin Buckland, Rashmi Aich Organizations: Nikkei, Softbank Group, SoftBank, Industries, Sumitomo Metal Mining, Astellas Pharma, pharma, IwaiCosmo Securities, Locations: TOKYO, drugmakers, U.S
SoftBank and IonQ in Strategic Pact on Quantum Computing
  + stars: | 2021-06-08 | by ( Sara Castellanos | ) www.wsj.com + 0.00   time to read: +5 min
IonQ is SoftBank’s first investment in quantum computing, said Kirthiga Reddy, partner at SoftBank Investment Advisers. PREVIEW“There’s an exponential increase in the need for computational power, and quantum computing uniquely helps enable that,” said Ms. Reddy, who led the IonQ investment. SoftBank Investment Advisers bought into IonQ through its Vision Fund 2. Eventually, SoftBank wants to use quantum computing to speed up calculations on machine-learning and materials science for some of its portfolio companies, Ms. Reddy said. Quantum computing can also be used for so-called optimization problems, which involve quickly finding the right answer to a problem with many variables.
Persons: Peter Chapman, Kirthiga Reddy, , Reddy, SoftBank, IonQ, Chapman, Chirag Dekate, IonQ’s, Sara Castellanos Organizations: IonQ Inc, SoftBank Group, SoftBank Investment Advisers, SoftBank Investment, Technology, Inc, Data Inc, IonQ, SoftBank, Karius Inc, Formlabs Inc, Amazon Web Services, Microsoft Corp, Chirag, Gartner Inc, Amazon.com Inc Locations: Md, Korean, Malaysian, sara.castellanos
Nikkei falls as market heavyweights offset gains in drugmakers
  + stars: | 2021-06-08 | by ( Reuters Staff | ) www.reuters.com sentiment -0.99   time to read: +1 min
TOKYO, June 8 (Reuters) - Japan’s stock index Nikkei changed course and inched down on Tuesday, as losses in market heavyweights offset gains in drugmakers after Eisai Co’s Alzheimer drug received U.S. nod. Nikkei share average inched down 0.11% to 28,987.58 by 0235 GMT, while the broader Topix edged up 0.06% to 1,962.07. Drug makers were the top gainers among the Tokyo Stock Exchange’s 33 industry subindexes, with Eisai remaining untraded as buy orders far exceeded sell orders. Sumitomo Metal Mining , down 3.41%, was the largest decliner on the index, followed by Oji Holdings losing 2.37% and Daikin Industries. There were 130 advancers on the Nikkei index against 86 decliners.
Persons: Eisai, , Shoichi Arisawa, Biogen Inc’s Organizations: Nikkei, IwaiCosmo Securities, , Eisai, Tokyo Stock, Astellas Pharma, SoftBank Group, Daikin Industries, Kawasaki, Sumitomo Metal Mining, Oji Holdings Locations: TOKYO, drugmakers, U.S
Glass Lewis opposes lawyer election to SoftBank board
  + stars: | 2021-06-08 | by ( Sam Nussey | ) www.reuters.com sentiment -0.97   time to read: +2 min
SoftBank Corp's logo is pictured at a news conference in Tokyo, Japan, February 4, 2021. REUTERS/Kim Kyung-Hoon/File PhotoProxy adviser Glass Lewis has urged SoftBank Group Corp (9984.T) shareholders to oppose the election of corporate lawyer Ken Siegel to the board of directors due to his professional ties with the Japanese conglomerate. The opposition is one of a number of recommendations to SoftBank shareholders ahead of the group's annual general meeting on June 23, with both Glass Lewis and peer Institutional Shareholder Services (ISS) opposing elections to auditor positions over independence concerns. We view such relationships as creating conflicts for directors," Glass Lewis wrote in a proxy paper. The recommendations come amid investor concern about the independence of SoftBank's board directors and their willingness to question decisions by founder and Chief Executive Masayoshi Son.
Persons: Kim Kyung, Glass Lewis, Ken Siegel, Siegel, Morrison, Foerster, Masayoshi Son, SoftBank, Keiko Erikawa, Yuko Kawamoto Organizations: REUTERS, SoftBank Group Corp, Services, Nvidia Corp, Company, Waseda University, Thomson Locations: Tokyo, Japan
Walmart's Flipkart in talks to raise $3 bln from SoftBank, others - Bloomberg News
  + stars: | 2021-06-07 | by ( ) www.reuters.com sentiment -1.00   time to read: +1 min
The logo of India's e-commerce firm Flipkart is seen in this illustration picture taken January 29, 2019. REUTERS/Danish Siddiqui/Illustration/File PhotoWalmart Inc-owned (WMT.N) Indian e-commerce firm Flipkart is in talks to raise at least $3 billion from investors including Japan's SoftBank Group Corp (9984.T) and several sovereign wealth funds, Bloomberg News reported on Monday. SoftBank could invest $300 million to $500 million of the total through its Vision Fund II, according to the report. Flipkart, SoftBank and the Abu Dhabi Investment Authority did not immediately respond to Reuters requests for comment. SoftBank sold its roughly 20% stake in the e-commerce firm to Walmart in 2018.
Persons: Danish Siddiqui, Singapore's GIC, SoftBank, Flipkart Organizations: REUTERS, Danish, Walmart Inc, Japan's SoftBank Group Corp, Bloomberg, Plan Investment Board, Abu, Abu Dhabi Investment Authority, Vision, Walmart, Reuters, Thomson Locations: Canada, Abu Dhabi, United States, Bengaluru
June 7 (Reuters) - Construction startup Katerra Inc, which is backed by SoftBank Group Corp, said on Sunday it has filed for bankruptcy protection in the United States. The company had estimated liabilities of $1 billion to $10 billion and assets of $500 million to $1 billion, according to the court filing made in the United States Bankruptcy Court for the Southern District of Texas. The Information news website reported earlier this month that Katerra had told employees it planned to shut down, marking the collapse of the SoftBank-backed company that had raised more than $2 billion to slash the cost of building apartments. Katerra said on Sunday that many of its U.S. projects will be demobilizing. The company has also entered into commitments for the sale of the Renovations and Lord Aeck Sargent architecture business lines to private buyers, it said in a statement bit.ly/3fZ8qGk.
Persons: Katerra, Aeck Sargent Organizations: SoftBank Group Corp, SB Investment Advisers, United States, Southern, Southern District of Texas Locations: United States, Southern District
Hedge fund Elliott Management owns big Dropbox stake, holds discussions
  + stars: | 2021-06-02 | by ( ) www.reuters.com sentiment -1.00   time to read: +1 min
REUTERS/Thomas White/IllustrationActivist investor Elliott Management owns a large stake in Dropbox (DBX.O) and has been holding private discussions with the file-sharing service provider for some time, a source familiar with the matter said on Wednesday. The hedge fund owns a stake of more than 10% which is valued at more than $800 million, the person said, declining to reveal the exact size of the investment. Dropbox, which was co-founded by Drew Houston who is currently the company's chief executive officer, is valued at roughly $11 billion. On Wednesday Dropbox was trading at $28.11, having jumped as much as 7% on news that Elliott has a stake and is holding discussions with management. The hedge fund invests roughly $40 billion and currently owns stakes in Duke Energy, where it has urged the company to consider splitting into three companies, and drugmaker GlaxoSmithKline.
Persons: Thomas White, Elliott, Drew Houston, Dropbox Organizations: REUTERS, Elliott Management, Street Journal, Twitter, SoftBank Group, Duke Energy, GlaxoSmithKline, Thomson Locations: Dropbox
Jim Justice Confirms Personal Liability on Greensill Loans
  + stars: | 2021-06-01 | by ( Julie Steinberg | ) www.wsj.com + 0.73   time to read: +1 min
West Virginia Gov. Jim Justice said he is personally liable for debt arranged by now-collapsed Greensill Capital, highlighting the pressure his family faces in turning around their sprawling coal-mining operations. The outstanding loans are “a burden on our family beyond belief, and we’ll have to deal with it,” he said. Mr. Justice said the loans “have always been personally guaranteed” and that he and his companies hadn’t done anything wrong. Borrowers make personal guarantees on business loans to give lenders additional comfort in the case of default.
Persons: Jim Justice, , , Justice’s, Justice Organizations: West Virginia Gov, SoftBank Group Corp Locations: Greensill
Japanese shares retreat from 3-week high; drugmakers limit losses
  + stars: | 2021-05-31 | by ( Reuters Staff | ) www.reuters.com sentiment -1.00   time to read: +2 min
TOKYO, May 31 (Reuters) - Japanese shares fell on Monday, as investors locked in profit after recent gains in the markets, though local drugmakers advanced as the world’s third-largest economy saw steady progress with its COVID-19 vaccination drive. The Nikkei share average was down 0.73% at 28,36.51, as of 0229 GMT, while the broader Topix lost 0.63% to 1,935,21. “Shares rose sharply on Friday, but gains in the U.S. markets were limited, which is the reason for the sell-off today,” said Yutaka Miura, senior technical analyst at Mizuho Securities. “There aren’t any reasons to buy Japanese stocks at the moment except that the vaccine rollouts are proceeding well. Drugmakers advanced, with the two leading percentage gainers in the Nikkei - Astellas Pharma jumping 3.69% and Chugai Pharmaceutical climbing 1.75%.
Persons: , , Yutaka Miura, Junko Fujita, Sherry Jacob, Phillips Organizations: Nikkei, Wall, Mizuho Securities, SoftBank Group, Renesas Electronics Corp, Dialog Semiconductor, Drugmakers, Astellas Pharma, Pharmaceutical, Tokyo Olympics, NTN Corp, Credit Saison, Fukuoka Financial Locations: TOKYO, 28,36.51, U.S, Japan
Nearly two years ago, SoftBank Group Corp. sought to part ways with WeWork co-founder Adam Neumann when it bailed out the shared-office company. Securities filings from earlier this month show WeWork in February gave Mr. Neumann an enhanced stock award worth roughly $245 million, a benefit that wasn’t extended to other early shareholders and hasn’t been previously reported. The deal was part of a renegotiation of the former chief executive’s giant 2019 exit package meant to end a long-running dispute between him and SoftBank and help clear the way for a public listing for WeWork, according to people familiar with the matter. In addition, the final package gave him nearly $200 million in cash, let him refinance $432 million in debt on favorable terms and allowed an entity Mr. Neumann controls to sell $578 million in WeWork stock. The stock sale was open to all investors while the other benefits were reserved for Mr. Neumann.
Persons: WeWork, Adam Neumann, Neumann, hasn’t Organizations: SoftBank Group Corp, Mr
SoftBank CEO Son's pay fell by half last year
  + stars: | 2021-05-27 | by ( Sam Nussey | ) www.reuters.com sentiment -1.00   time to read: +2 min
TOKYO (Reuters) -SoftBank Group Corp Chief Executive Masayoshi Son’s remuneration for the past business year fell by 52% to 100 million yen ($915,000) including basic pay, a filing from the Japanese conglomerate showed on Thursday. The filing also showed Simon Segars, CEO of Britain-based chip designer Arm, received the largest disclosed remuneration of 1.9 billion yen. Misra’s disclosed remuneration was 931 million yen ($8.5 million) - down 42% when compared with the year prior, when he sat on the board for the full 12 months. Claure’s remuneration fell 15% to roughly 1.8 billion yen, with his package including the cost of his relocation to the United States. In total eight executives received $64 million, including former strategy chief Katsunori Sago who has since left the firm here.
Persons: Masayoshi, Issei Kato, Simon Segars, SoftBank, Rajeev Misra, Marcelo Claure, Misra’s, Katsunori Sago, Keiko Erikawa, Erikawa Organizations: SoftBank Group, SoftBank Corp, Tokyo Stock Exchange, REUTERS, Nvidia Corp, Vision Fund, Koei Tecmo Holdings Co Locations: TOKYO, Tokyo, Japan, Britain, U.S, United States
Japanese shares end higher on Wall Street gains, slow growth concerns weigh
  + stars: | 2021-05-25 | by ( Reuters Staff | ) www.reuters.com sentiment -0.99   time to read: +2 min
TOKYO, May 25 (Reuters) - Japanese shares settled higher on Tuesday, as a strong finish on the Nasdaq overnight boosted heavyweight local technology stocks, although worries about a sluggish economic recovery because of a slow vaccine rollout capped gains. The Nikkei share average rose 0.67% to close at 28,553.98, while the broader Topix inched up 0.34% to 1,919.52. “High-priced stocks have lifted the Japanese market after a strong gain in major U.S. indexes,” said Norihiro Fujito, chief investment strategist, Mitsubishi UFJ Morgan Stanley Securities. Airliners also fell, with ANA Holdings and Japan Airlines losing 0.80% each. The largest percentage gainer on the Nikkei was Konami Holdings, up 4.29%, followed by Kobe Steel, gaining 3.85%, and Japan Steel Works, up 3.63%.
Persons: , Norihiro Fujito, Mitsubishi UFJ, Mitsubishi UFJ Morgan Stanley, Junko Fujita, Uttaresh.V, Subhranshu Sahu Organizations: Nasdaq, Nikkei, Mitsubishi, Mitsubishi UFJ Morgan, Mitsubishi UFJ Morgan Stanley Securities, U.S, Treasury, Tokyo, SoftBank Group, U.S . State Department, Retailers, J.Front Retailing, Isetan Mitsukoshi Holdings, ANA Holdings, Japan Airlines, Konami Holdings, Kobe Steel, Japan Steel Works, D Holdings Inc, NH Foods, Tosoh Corp Locations: TOKYO, , U.S, Japan, Europe
Brazil's Banco Inter pops on StoneCo stake, Nasdaq plan
  + stars: | 2021-05-24 | by ( Tatiana Bautzer | Paula Laier | ) www.reuters.com + 0.98   time to read: +1 min
SAO PAULO (Reuters) -Banco Inter SA’s units soared on Monday after payments company StoneCo Ltd said it would buy a stake of up to 4.99% in the Brazilian online bank and the bank separately announced plans for a Nasdaq listing. Banco Inter units rose 23% in Sao Paulo, its second-largest daily rise in a year. Brazilian payments company StoneCo said it planned to spend $471 million on new shares in Banco Inter, which is also backed by SoftBank Group Corp. Banco Inter intends to list its shares on Nasdaq as Inter Platform. It is unclear whether Inter units can remain part of the local index Bovespa, which is usually restricted to locally-listed shares.
Persons: BTG, Eduardo Rosman, Stone “, , StoneCo Organizations: SAO PAULO, Reuters, Banco Inter, StoneCo, Inter, Berkshire Hathaway Inc, Stone, Square Inc, SoftBank Group Corp, Nasdaq, U.S Locations: Sao Paulo, U.S, Berkshire, Brazil
FILE PHOTO: Japan's SoftBank Group Corp Chief Executive Masayoshi Son attends a news conference in Tokyo, Japan, Nov. 5, 2018. The military began mass vaccinations in Tokyo and Osaka on Monday with the newly approved Moderna Inc dose. Japan’s slow vaccination progress has kept the majority of the public opposed to holding the Games this year. While opinion polls show strong opposition to the Games, public protests have been limited. On Sunday, a group of fewer than 20 gathered in Tokyo’s Shinjuku district, calling on the government to cancel the Games, holding placards like “No Olympics”.
Persons: Masayoshi Son, Kim Kyung, Son, , , John Coates, Thomas Bach, ” Bach Organizations: Monday, , SoftBank Group, REUTERS, SoftBank, Tokyo, IOC, Committee, Games, Inc, Reuters, International Hockey Federation Locations: TOKYO, Tokyo, Japan, Osaka, Tokyo’s Shinjuku, United States
Japan's SoftBank Group Corp Chief Executive Masayoshi Son attends a news conference in Tokyo, Japan, Nov. 5, 2018. "Currently more than 80% of people want the Olympics to be postponed or cancelled. That contrasts with some other major economies that are beginning to ease lockdown measures as vaccinations race ahead. The military began mass vaccinations in Tokyo and Osaka on Monday with the newly approved Moderna Inc (MRNA.O) dose. read moreWhile opinion polls show strong opposition to the Games, public protests have been limited.
Persons: Japan's, Masayoshi Son, Kim Kyung, Son, John Coates, Thomas Bach, Bach Organizations: Japan's SoftBank Group, REUTERS, Monday, SoftBank Group, Tokyo, IOC, Committee, Games, Moderna Inc, Reuters, International Hockey Federation, Thomson Locations: Tokyo, Japan, Osaka, Tokyo's Shinjuku, United States
'Son-chan' invites veteran stock picker to SoftBank board
  + stars: | 2021-05-22 | by ( Sam Nussey | ) www.reuters.com + 0.00   time to read: +2 min
SoftBank Corp. placard is prepared during a ceremony to mark the company's debut on the Tokyo Stock Exchange in Tokyo, Japan December 19, 2018. REUTERS/Issei KatoThe nomination of Koei Tecmo (3635.T) chair Keiko Erikawa to SoftBank Group's (9984.T) board adds a veteran games industry executive known for her stock-picking skill, bringing an authoritative voice after the loss of senior industry figures. "Erikawa is not the sort of person who would hesitate to express her views to Son. At March-end Koei had 113 billion yen ($1.04 billion) in investment securities on its balance sheet, up from 71 billion yen a year earlier. Following the subsequent recovery in valuations, investors fret that Son has less incentive to listen to external voices.
Persons: Issei Kato, Koei Tecmo, Keiko Erikawa, SoftBank Group's, Yoichi, Masayoshi, Hideki Yasuda, SoftBank, Tadashi Yanai, Shigenobu Nagamori, Erikawa, Yuko Kawamoto Organizations: SoftBank Corp, Tokyo Stock Exchange, REUTERS, Koei, Ace Research Institute, Retailing, Nikkei Veritas, Waseda University, Thomson Locations: Tokyo, Japan, SoftBank, SBG
Veteran stock picker to join 'Son-chan' on SoftBank board
  + stars: | 2021-05-22 | by ( Sam Nussey | ) www.reuters.com + 0.00   time to read: +2 min
SoftBank Corp. placard is prepared during a ceremony to mark the company's debut on the Tokyo Stock Exchange in Tokyo, Japan December 19, 2018. REUTERS/Issei KatoThe nomination of Koei Tecmo (3635.T) chair Keiko Erikawa to SoftBank Group's (9984.T) board adds a veteran games industry executive known for her stock-picking skill, bringing an authoritative voice after the loss of senior industry figures. SoftBank invests in listed stocks through its SB Northstar trading unit as well as in late-stage startups via its Vision Fund unit. At March-end Koei had 113 billion yen ($1.04 billion) in investment securities on its balance sheet, up from 71 billion yen a year earlier. Following the subsequent recovery in valuations, investors fret that Son has less incentive to listen to external voices.
Persons: Issei Kato, Koei Tecmo, Keiko Erikawa, SoftBank Group's, Yoichi, Masayoshi, Hideki Yasuda, SoftBank, Tadashi Yanai, Shigenobu Nagamori, Erikawa, Yuko Kawamoto Organizations: SoftBank Corp, Tokyo Stock Exchange, REUTERS, Koei, Ace Research Institute, Retailing, Northstar, Vision Fund, Nikkei Veritas, Waseda University, Thomson Locations: Tokyo, Japan, SoftBank, SBG
SoftBank says Son lieutenant Fisher, Arm CEO to leave board
  + stars: | 2021-05-21 | by ( Sam Nussey | ) www.reuters.com sentiment -0.98   time to read: +1 min
SoftBank Corp's logo is pictured at a news conference in Tokyo, Japan, February 4, 2021. REUTERS/Kim Kyung-HoonSoftBank Group Corp (9984.T) on Friday said Chief Executive Masayoshi Son's longtime lieutenant Ron Fisher and the CEO of chip designer Arm, Simon Segars, will step down from the Japanese conglomerate's board. Fisher was an architect of SoftBank's disastrous bet on office space firm WeWork, while Segars' firm is to be sold to U.S. chip firm Nvidia Corp (NVDA.O) pending regulatory approval. SoftBank has nominated the chair of gaming firm Koei Tecmo Holdings Co Ltd (3635.T), Keiko Erikawa, and the co-CEO of group internet business Z Holdings Corp (4689.T), Kentaro Kawabe, to join the board. Waseda University business professor Yuko Kawamoto is also departing the board after just a year to join a government agency.
Persons: Kim Kyung, Masayoshi Son's, Ron Fisher, Simon Segars, Fisher, Segars, SoftBank, Keiko Erikawa, Kentaro, Ken Siegel, Morrison, Foerster, Yuko Kawamoto, Koei's Erikawa Organizations: REUTERS, SoftBank Group Corp, Nvidia Corp, Koei Tecmo Holdings Co, Z Holdings Corp, Boston Dynamics, Hyundai, Waseda University, Thomson Locations: Tokyo, Japan, U.S
Son's SoftBank stake rises to 29% after treasury share retirement
  + stars: | 2021-05-20 | by ( Reuters Staff | ) www.reuters.com sentiment -0.95   time to read: 1 min
FILE PHOTO: SoftBank Corp's logo is pictured at a news conference in Tokyo, Japan, Feb. 4, 2021. REUTERS/Kim Kyung-HoonTOKYO (Reuters) - SoftBank Group Corp Chief Executive Masayoshi Son’s stake in the Japanese conglomerate he founded has risen to 29.01% from 26.90% in February following the retirement of treasury shares, regulatory filings showed on Thursday.
Persons: Kim Kyung, TOKYO, Masayoshi Organizations: REUTERS, SoftBank Group Locations: Tokyo, Japan
Palo Alto Networks shares rose as much as 6% in extended trading on Thursday after the security hardware and software company announced fiscal second-quarter earnings that were healthier than analysts had expected. Palo Alto Networks isn't the only company looking to capitalize on security anxiety. During the quarter the company acquired Bridgecrew, a cloud security company, for $156 million. Notwithstanding the after-hours move, shares of Palo Alto Networks were down about 4% since the start of the year, compared with a gain of roughly 11% for the S&P 500 index over the same period. WATCH: Palo Alto Networks CEO on what we know about the scope of the Microsoft hack
Persons: Nikesh Arora, Masayoshi, Arora, Refinitiv Organizations: Palo Alto Networks, SoftBank Group Corp, Revenue, Microsoft's, Colonial Pipeline, CrowdStrike, Executives, Palo Alto, Microsoft Locations: Tokyo, Refinitiv, Palo
WeWork reports quarterly loss of nearly $2.1 bln ahead of public listing
  + stars: | 2021-05-20 | by ( ) www.reuters.com sentiment -1.00   time to read: +1 min
Total occupancy ticked up to 50% in the first quarter compared to 47% in the fourth quarter, the company said. WeWork in March agreed to go public through a merger with BowX Acquisition Corp (BOWX.O), a special purpose acquisition company, in a deal that valued it at $9 billion. SoftBank Group Corp (9984.T) said it would retain a majority stake in the company after the merger. WeWork said it had 490,000 members in the first quarter, compared to 693,000 in March 2020. The company said it incurred restructuring costs of $494 million, driven by non-cash SoftBank stock purchases and a settlement with Neumann.
Persons: WeWork, Adam Neumann's, Neumann, WeWork's, SoftBank Organizations: BowX, SoftBank Group Corp, Thomson Locations: Neumann
3-D Printer Formlabs Raises $150 Million in SoftBank-Led Funding
  + stars: | 2021-05-19 | by ( Sara Castellanos | ) www.wsj.com + 0.00   time to read: +4 min
Formlabs is one of several 3-D printing companies, including Desktop Metal and 3D Systems Corp. , that have attracted investors in recent months amid renewed buzz. Formlabs’ 3-D printers. In addition, sometimes there are defects in the printed objects, which raises quality-control concerns, Mr. Shanler said. Hospital system Northwell Health, for example, used Formlabs printers as a stopgap measure to fabricate nasal swabs to test for Covid-19. Formlabs typically strikes deals for its 3-D printers with chief information officers and chief technology officers, among others.
Persons: , Max Lobovsky, Lobovsky, Tasha Keeney, Michael Shanler, Mr, Shanler, Formlabs, Mike Selberis, Ashley, Nishar, Sara Castellanos Organizations: Formlabs Inc, SoftBank Group, ARK Investment Management, Systems Corp, Gartner Inc, Formlabs, U.S, Northwell, Printers, Mayo Clinic, Ashley Furniture, Companies, SoftBank Investment Locations: Somerville, Mass, Glidewell, Newport Beach, Calif, sara.castellanos
Japanese shares drop as economic slump prompts investor caution
  + stars: | 2021-05-19 | by ( Reuters Staff | ) www.reuters.com sentiment -1.00   time to read: +2 min
TOKYO, May 19 (Reuters) - Japanese shares fell on Wednesday, tracking cues from Wall Street’s weak finish overnight, while domestic cyclicals lost ground as concerns over the country’s pandemic-induced economic slump weighed on investor sentiment. Nikkei share average was down 1.34% at 28,026.36 by 0207 GMT, while the broader Topix fell 0.67% to 1,895.19. Cyclical shares took a hit, with machinery sector losing the most among the 33 sector sub-indexes on the main bourse. Air-conditioner maker Daikin Industries fell 3.6%, construction equipment maker Komatsu lost 2.74%, while farm equipment maker Kubota slipped 2.77%. The underperformers among the Topix 30 were Daikin Industries, followed by SoftBank Group Corp losing 2.20%.
Persons: ” Yoshihiro Takeshige, Kubota, Junko Fujita, Sherry Jacob, Phillips Organizations: Nikkei, Asahi, Asset Management, Tokyo Olympics, bourse, Daikin Industries, Komatsu, Toyota, Mitsubishi UFJ Financial, SoftBank Group Corp Locations: TOKYO, Japan, U.S, COVID, Tokyo, Hoya
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